Binance exec says ‘it was like a bomb went off’ at FTX, compares Bankman-Fried to Madoff and Elizabeth Holmes

(CNBC) Binance’s chief strategy officer said it took his company two hours of due diligence on FTX to determine that Sam Bankman-Fried’s crypto exchange was beyond saving. “It was like a bomb went off in that place,” Patrick Hillmann, Binance CSO, told CNBC on Thursday. “You know, we’re getting on calls, people are crying. … It was complete pandemonium over there,” Hillmann said, adding that when “Sam went completely silent on them, the entire organization just fell to pieces.”

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